SHANGHAI, July 27 (Xinhua) -- Greenland Group, a real estate giant based in Shanghai, signed an agreement with five international business associations on Thursday to build a park area for trade.

Dubbed the "Greenland Global Commodity Trading Hub," the project features a 40-hectare park area in Qingpu District of Shanghai. Foreign companies will be invited to set up operations in the hub to showcase their products and services, according to Zhang Yuliang, chairman of Greenland Group.

The project is part of Shanghai's efforts to promote imports as it prepares to host the first China International Import Expo, to be held from Nov. 5 to 10.

John Edwards, British Consul-General in Shanghai, said at the signing ceremony that he had encouraged British companies to do business in China and hoped an increasing number of Chinese customers would show interest in British products and services.